AN APPRAISAL OF THE LEGAL AND INSTITUTIONAL FRAMEWORK FOR MORTGAGE FINANCING IN NIGERIA

📄 Project Abstract

Housing is one of the priorities of mans needs. In African setting, owning a house mean that a person has graduated group of household, a status which characterized selfautonomy, manhood, some level of independence and capability to bring other relations who want to live there to do so. Owning a house is a dream for all. In the past, it was relatively easy to own a house because the cost was not much, coupled with some community assistance which has made building a house less tedious. But nowadays, owning a house especially in an urban or semi-urban area is a herculean task. There is no assistance from age-mate group or community. Everything is done with money. Even the land upon which to build the house is expensive. Building materials are costly. There are numerous building laws and regulations which must be complied with before one can build a house. In essence, building a house is capital intensive project which cannot be taken lightly. It is because of this that respite is often r...